Economic Survey 2017-18 Highlights and Important Questions

The government tabled the Economic Survey of India in the Budget session of Parliament. The Survey projected India’s GDP to grow at 7-7.5 per cent in FY 2018-19. The Union Budget is presented on February 1.

Economic Survey pegs 2018-19 GDP growth at 7-7.5 per cent; says current high oil prices a major concern.

GDP to expand by 6.75 per cent in 2017-18, re-instating India as world’s fastest growing major economy, says Economic Survey tabled in Parliament.

Economy accelerated in second half of current fiscal due to GST, bank recapitalisation, liberalisation of FDI and higher exports.

Post-demonetization and GST increase in new tax filers (over and above natural increase) of about 1.8 million and some boost to individual income tax collections

Demonetisation has encouraged financial savings

Insolvency Code being actively used to resolve NPA woes

Preliminary analysis of the Goods and Services Tax data reveals 50 per cent increase in the number of indirect taxpayers